HOUSTON, Nov. 15, 2018 /PRNewswire/ -- Nobilis Health Corp. (NYSE American: HLTH) (NEO: HLTH) ("Nobilis" or the "Company") announced today that on November 15, 2018 it received notice from the New York Stock Exchange (the "NYSE") that the Company is not in compliance with the NYSE's continued listing requirements under the timely filing criteria established in Section 1007 of the NYSE American Company Guide, as a result of its failure to timely file its Quarterly Report on Form 10-Q for the three months ended September 30, 2018.
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The NYSE informed Nobilis Health that, under the NYSE rules, the Company will have six months from November 15, 2018 to file the Form 10-Q with the SEC. Nobilis Health can regain compliance with the NYSE listing standards at any time before that date by filing the Form 10-Q with the SEC. If the Company fails to file Form 10-Q by the NYSE's compliance deadline, the NYSE may grant, at its discretion, an extension of up to six additional months for the Company to regain compliance, depending on the specific circumstances. The letter from the NYSE also notes that the NYSE may nevertheless commence delisting proceedings at any time if it deems that the circumstances warrant.
The Company has stated previously, additional time is required for the Company and auditor to complete their review of the Company's financial statements in order to finalize the 10-Q. The Company is re-evaluating the Net Realizable Value on its Accounts Receivable and intends to make a significant adjustment to the carrying value of accounts receivable, primarily on out of network claims greater than 365 days old. The final adjustment is subject to the completion of the Company's and auditor's review.